The Nuclear Insurance Association of Canada (NIAC) was formed in 1958 as a collective of property and casualty insurers to provide stable and reliable insurance capacity for the Canadian nuclear industry. It operates as an insurance pool, underwriting policies on behalf of its member companies. NIAC's mission is to support the peaceful use of nuclear technology by offering specialized insurance coverage for nuclear installations, including power reactors and research facilities, covering both property damage and third-party liability as mandated by the Nuclear Liability and Compensation Act.